Litecoin Refuses to Back Down!!

Litecoin bulls can rejoice because LTC has refused to breakdown from our head and shoulders pattern. In fact, we have trekked upward to meet a significant level and former high at $227. We are likely to see some resistance here, so we might not be out of the woods yet. Sometimes it may take the second shoulder a bit to form. If we can break $227 solidly this is less likely. But we won't be truly out of the woods until we break the head level at $242 or so. Keep an eye on the neckline at $217. The Kovach OBV is very strong which is giving us some confidence in LTC